Globe Specialty (GSM) Continues March Upward as Cramer Recommends Buying
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Price: $4.03 -1.95%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.9%
Revenue Growth %: +22.9%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.9%
Revenue Growth %: +22.9%
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Jim Cramer recently spoke with Globe Specialty Metals (NYSE: GSM) CEO Jeff Bradley.
Globe Specialty is the number one U.S. producer of silicone, and number two in the Western world. GSM reported their Q211 results on February 8, 2011, and produced EPS of $0.13 on revs of $155.78 million, both edging out estimates calling for EPS of $0.11 on revs of $144.18 million. The stock is up over 16% since then.
Bradley commented that his company sells products for a number of fast growing markets, including solar, aluminum, and silicone industries. With a five-to-six year lag on bringing new plants into production, simple supply and demand are boosting profits for the New York, NY-based company.
Globe's product adds "strength and cast-ability" to aluminum, and is used by other companies to make pure silicone for solar panels and semis. Steel producers also utilize their product in the production process.
Bradley also highlighted the company's new Iceland plant, which is in an area with low-cost energy, one of Globe's biggest input costs. The plant will be the lowest cost producing plant in Europe, and will supply that continent and Asia.
Jim Cramer continues to recommend Globe Specialty. Shares of the company are up 3.9% early today.
Globe Specialty is the number one U.S. producer of silicone, and number two in the Western world. GSM reported their Q211 results on February 8, 2011, and produced EPS of $0.13 on revs of $155.78 million, both edging out estimates calling for EPS of $0.11 on revs of $144.18 million. The stock is up over 16% since then.
Bradley commented that his company sells products for a number of fast growing markets, including solar, aluminum, and silicone industries. With a five-to-six year lag on bringing new plants into production, simple supply and demand are boosting profits for the New York, NY-based company.
Globe's product adds "strength and cast-ability" to aluminum, and is used by other companies to make pure silicone for solar panels and semis. Steel producers also utilize their product in the production process.
Bradley also highlighted the company's new Iceland plant, which is in an area with low-cost energy, one of Globe's biggest input costs. The plant will be the lowest cost producing plant in Europe, and will supply that continent and Asia.
Jim Cramer continues to recommend Globe Specialty. Shares of the company are up 3.9% early today.
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